Paxton Said in Deposition That Donor Gave Him Stocks to Please God
New York Times · LC · trust 48/100
The leaked deposition from a fraud inquiry in 2014 provides insight into the Senate candidate’s investments and his tactics for defending himself.
Listen · 10:06 min Share full article Ken Paxton, candidate for U.S. Senate, speaks during the 2026 Republican Party of Texas State Convention in Houston. Credit... Antranik Tavitian for The New York Times By Lauren McGaughy
At the time, in December 2014, Mr. Paxton was a fast-rising Republican star. He had just been elected the next attorney general of Texas. But outside of public view, he was under scrutiny as part of a federal investigation into possible fraud.
The deposition in the case, obtained by The New York Times, was one of the earliest episodes in what would become a decade-long pattern for Mr. Paxton: accusations of corruption and other illegal conduct repeatedly emerged, only to be resolved without a conviction.
Now, as Mr. Paxton is locked in a fierce Senate race in Texas, the deposition offers a previously unseen account of his finances, his attitude toward money and how he used his connections within the State Legislature to amass his wealth.
Since his first election to public office in 2002, Mr. Paxton has grown his wealth through business investments and real estate purchases into a personal fortune with a reported value of up to $23 million. His assets now include multiple mutual funds, a cellphone tower and 15 properties across six states.
Mr. Paxton has rarely answered questions publicly about how he accumulated this wealth on a government salary. His finances have been the subject of repeated investigations by local, state and federal authorities into alleged bribery, fraud and self-dealing. The issue has been a frequent line of attack from his political opponents, including James Talarico, the Democratic state lawmaker running against him for Senate.
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